Sunday, March 2, 2008

What to do with your 120kd?

Without helping cause more inflationary prices?

Here's a few questions you can try to answer:

1- Is this 120kd monthly going to save you from a financial crisis?2- Do you want it to go straight to whoever exportssecondary/discretionary goods to Kuwait?3- Do you enjoy seeing the prices of almost everything just simply take a uni-lateral step forward?

If you answered NO to the above questions, then here's what you can do:

1- Go to your bank.2- Ask them to create a 2nd account for you.3- Create a monthly automatic transfer of 120KD to it.

If you're young, then in 5 years you'll find 7,200 KD in this little account plus whatever extra the bank adds (I advise you that fawa'ed/interest is 7aram so stay away from those). A pretty good hunk of change to help you get a car or buy furniture for your dream house to start in a married life or whatever. So from now til then, I give you my best "good luck wishes" :)

If you're a bit older and past that then it can be a good amount for you to start a small business or if you're too busy simply invest it in some hot fund (you got 5 years to do your research, so start early ;)

My point is, this is something extra you didn't need before today. If you change your consumption habits next month to accommodate it, then you would have done yourself nothing but more dependence and you'll be causing the rest of us more inflation. So please don't. and Thank you.